The coordination council approved attracting financing from the EBRD and IBRD for the construction of the «Beineu – Saksaulsky» highway

Under the chairmanship of the Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan Serik Zhumangarin, a meeting of the Coordination Council on cooperation with international financial organizations (IFOs) was held.

During the meeting, the participants discussed the issues of attracting financial resources from the European Bank for Reconstruction and Development (EBRD), the International Bank for Reconstruction and Development (IBRD), the Asian Infrastructure Investment Bank (AIIB), and the Islamic Development Bank (IsDB) for the implementation of large infrastructure projects under a state guarantee.

Special attention was paid to the construction of the «Beineu – Saksaulsky» highway, which will become part of the Trans-Caspian International Transport Route. On the instruction of the Head of State, the construction of a new highway with a total length of 765 km, including the «Beineu – Saksaulsky» and «Bozoy – Shalkar» sections, is to begin in the near future. The Ministry of Transport reports that the completion of the feasibility study and the start of construction work are planned for the upcoming period. The EBRD and IBRD have confirmed their readiness to support the project by sending mandate letters of intent to allocate over 800 billion tenge.

Also discussed was the issue of implementing the JSC «NC «KTZ» project Transforming Rail and Connectivity in Kazakhstan (Middle Corridor Development) for the development of the Trans-Kazakhstan railway corridor, jointly with the IBRD and AIIB.

Cooperation with the Islamic Development Bank on the construction of engineering and communication infrastructure in special economic and industrial zones was considered separately. According to the forecast of the Ministry of Industry and Construction, providing the necessary infrastructure will result in a 6,1% increase in the GVA of the manufacturing industry by 2030.

The implementation of these infrastructure projects will significantly strengthen the country's potential as an international transit corridor, and will also make a significant contribution to increasing economic attractiveness and developing the business environment.